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Elements and Performance Criteria

1. Check and verify application details
   • Gather information required to support application in accordance with credit policy and record using correct organisational policy and procedures
   • Verify information provided by applicant and obtain verification from other sources for accuracy and compliance with relevant legislative requirements, industry regulations and organisational guidelines
2. Submit assessment and decision
   • Conduct a credit assessment and apply credit policy to inform applicant of the decision to reject or accept application
   • Refer decisions to advance funds or extend credit that falls outside officer’s approval, or limits of authority, to relevant approving personnel
   • Prepare recommendations to accept or reject applications to provide credit or advance funds and identify any required security
   • Forward recommendations to relevant personnel promptly in accordance with organisational procedures
3. Maintain application records and complete necessary documentation
   • Maintain an up-to-date records system according to legislative requirements and timeframes, and organisational policy and procedures
   • Monitor and record file movements
   • Produce accurate, clear and concise documentation in accordance with industry, organisational and legislative requirements and timeframes

Performance Evidence

Evidence of the ability to:

check the application details thoroughly to ensure accuracy

assess applications following legislative requirements, industry codes of practice and organisational credit policy and procedures

use relevant data entry, office equipment and software to accurately process applications.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

list the features of credit products and their application requirements

identify ways of obtaining and checking relevant information from applicants

explain key features of organisational policy and procedures that relate to credit assessments, security and customer service

explain the key purpose of relevant credit legislation, statutory requirements and codes of practice, covering:

consumer credit

personal property securities

privacy

explain types of security.

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